India added 7.3GW of solar power across the country in 2019: Report

According to a recent report India installed 7.3 gigawatt (GW) of solar power across the country in 2019 (CY19), consolidating its position as the third-largest solar market in the world.

India also had a robust pipeline of utility-scale under-development projects of 23.7 GW capacity by the end of CY19, with 31.5 GW capacity tenders pending under auctions, added the report.

“The solar market leaders have changed in almost every category compared with last year. With a tough year ahead, we expect strong, resilient, and innovative companies continue to do well,” said Raj Prabhu, CEO of Mercom Capital Group.

According to the study by Mercom Communications India, the top 10 large-scale project developers accounted for 68 per cent market share in 2019. While ReNew Power was the top utility-scale developer during CY19, Azure Power, on the other hand, owned the largest project pipeline.

It added that there were 29 large-scale solar developers with a project pipeline of 100 megawatt (MW) or more in India.

“Large-scale solar installations in 2019 accounted for 85 per cent with 6.2 GW. While solar accounted for 41 per cent of new power capacity additions in 2019 behind coal which accounted for 44 per cent,” the study said.

Mahindra Susten was the top EPC player for utility-scale solar installations in 2019, followed by L&T. The study, however, added that the firms offering EPC services saw a lot of projects moved to 2020 due to delays caused by general elections, land, and evacuation issues.

“Tata Power Solar had the largest cumulative rooftop portfolio, followed by CleanMax Solar. At the end of 2019, the top 10 rooftop solar installers represented 34 per cent of the total rooftop solar market share. In 2019, the rooftop solar market growth came down by 33 per cent compared to CY18,” the study added.

According to the study, in CY2019, Trina Solar was the leading module supplier to India in terms of cumulative shipments, while Waaree Energies, Adani, and Risen Energy held the top spot. The top 10 module suppliers accounted for over 62 per cent of the market in 2019.

As per the report Rays Power Experts and CleanMax Solar were the top open access developers as of December 2019.

Source: PTI